55-12.5 - Prospective application. - Virginia Statutes

§ 55-12.5. Prospective application.

Sections 55-12.1 through 55-12.6 apply to a nonvested property interest or apower of appointment that is created on or after July 1, 2000. For purposesof this section, a nonvested property interest or a power of appointmentcreated by the exercise of a power of appointment is created when the poweris irrevocably exercised or when a revocable exercise becomes irrevocable.

(2000, c. 714.)